Hilton Hotels matches Street with Q4 EPS, hedges on '04

MikeMaynard

WASHINGTON (CBS.MW) -- Hilton Hotels
HLT, -2.59%
posted a fourth-quarter adjusted profit of 11 cents per share, in line with the consensus estimate among 19 analysts surveyed by Reuters Research and matching the prior year's 11 cents. On a net basis, Hilton earned 17 cents a share in the latest quarter, reflecting a 7-cent reduction in the provision for income taxes and a 1-cent loss related to an impairment charge and asset dispositions. The hotel operator's quarterly revenue reached $989 million, up 3 percent from the prior year's $957 million. Hilton also said it anticipated a "comparatively challenging" first quarter, with earnings per share and revenue projected for all of 2004 in the "mid-40 cent" range and the $4.07 billion range, respectively. Analysts' consensus forecast for full-year earnings stands at 47 cents. Shares of Hilton ended Friday's action at $16.88, down 10 cents.

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